how far back do credit companys/bank check

thistle73

aware your stuff on your credit file stays on file for 6 years but how far back do credit companys ,banks really check ? is it full 6 years ?
reason i ask as my partner wants apply for 0% credit card ,is file is great ,no defaults ,late markers etc ,fab payment history but myself has a small default which is five years old ,as we financal linked with joint account im worried it a no due to my default:(
so hence asking this question:o

Tixy

A potential lender will see all the data showing on the credit file of the agency they search. But generally they will place slightly less importance on things the older they are.

As all lenders have their own criteria it is hard to generalise but as an example some lenders may be willing to lend to an applicant with a 5year old default but would decline any one with a default within the last 2 years or 3 years. Other lenders may have a policy to decline anyone with a default in the last 6 years.

Generally lenders place less importance on the credit files of financial associates than of the applicant.

All he can do is apply and see.

Nasqueron

6 years is the general rule I believe, however, some (if not most/all) financial institutions will have internal blacklists that will reject people who have defaulted - how that works with a partner applying for a CC but having a joint account I don't know sorry. May be best wait for 6 years and check he/she's not applying at the group (not bank specifically) that you defaulted on just in case

Fruit_and_Nut_Case

fastrez wrote: »

I had no idea it went back this far - more fool me perhaps, but thanks for sharing this insight. My credit score is fine now but six years ago not so much. The worst is almost behind me though.

Don't fret over your Credit Score. This is just a number that the Credit Reference Agencies provide to individuals, usually for a fee. Credit Providers don't see this number but make up their minds from the (hopefully) factual information on your Credit Report.